255 ELLWOOD BEACH Drive, GOLETA, CA 93117
$6,700,000
Property Type:
Res Inc
Lot Size (sq. ft.):
27,878
Status:
Closed
Current Price:
$6,700,000
List Date:
9/27/2011
Last Modified:
4/20/2019
Description
Great opportunity to acquire 2 well-maintained apartment complexes on l lot located adjacent to Ellwood Beach Preserve. Consisting of a 15 unit complex & 16 unit complex. Unit Mix: 8(2BD/2BA), 2(2BD/1BA), 20(1BD/1BA) & 1(Studio). The neighborhood serves as a vital rental community to UCSB & local workforce. 24 open parking spaces, 10 carports & 2 garages.
More Information MLS# 11-3296
Location Info
District: 30 - SB/GOL SOUTH
Street #: 255
Street Name: ELLWOOD BEACH
Street Suffix: Drive
State/Province: CA
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: D11
County: Santa Barbara
Parcel Number: 079-552-037
Cross Street: Hollister Avenue
Contract Info
Current Price: $6,700,000
Price: 6750000
Buyers Agent $/%: 2
Begin Date: 2011-09-27
Status: Closed
Status Information
Sold Date: 2012-10-18
Sold Price: $6,700,000
Under Contract Date: 2012-02-27
Property Information
Number of Units: 31
Stories: 2
Apx # Acres: 0.64
Apx Lot SqFt: 27878
Assessor's Data
Assessor Lot Acres: 0.64
Neighborhood/Schools
Neighborhood: 30 - Ellwood/Santa Barbara Shores
Elementary School: Other
Junior High School: Gol Valley
High School: Dos Pueblos
Remarks
Hot Sheet Comment: new
Owner Info
Deposit: 150000
Miscellaneous
Parking Spaces: 36
Unit 1
# Units: 8
# Bedrooms: 2
# Baths: 2
Furnished: N
Rent: 1800
Monthly Total: 14210
Unit 2
# Units: 2
# Bedrooms: 2
# Baths: 1
Furnished: N
Rent: 1725
Monthly Total: 3445
Unit 3
# Units: 20
# Bedrooms: 1
# Baths: 1
Furnished: N
Rent: 1300
Monthly Total: 26010
Unit 4
# Units: 1
# Baths: 1
Furnished: N
Rent: 995
Monthly Total: 995
Income/Expenses
Total Monthly Income: 44660
Other Income: 1050
Annual Income: 548520
Gross Rent Multiplr: 12.31
Capitalization Rate: 5.45%
Vac Factor: 2.5%
Taxes: 72900
Insurance: 4500
Water Expense: 8929
Electric Expense: 1755
Gas Expense: 3302
Trash Expense: 3691
Maintenance Expense: 15500
Total Annual Exp: 163808
NOI: 368,527
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes
Property Features
Income/Expenses: Actual
Condition: Good
Foundation: Slab
Parking Info: Garages; Carport; Uncovered; Cpt #5; Unc #5
Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping
Laundry: Laundry Room
Flr/Wdw Coverings: Carpet; Hardwood; Tile; Vinyl
Heating/Cooling: Wall
Owner Provides: Water; Trash
Zoning: Other
Exchange: Poss
Terms: Cash; Ctnl
Listing Type: ER
Listing Office: The Channel Group
Last Updated: April - 20 - 2019
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